NORTH PORT, FL, September 9, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Largo Preserve, (centered photo below) a 51.86 acre multi-family development site located in North Port, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $1,900,000.
Paul Bouldin, ( bottom left photo) Senior Associate, spearheaded the effort with Dorothy Jackman, (top right photo) Vice President Investments and Michael Harris, Investment Associate in Marcus & Millichap’s Tampa office.
Paul Bouldin, ( bottom left photo) Senior Associate, spearheaded the effort with Dorothy Jackman, (top right photo) Vice President Investments and Michael Harris, Investment Associate in Marcus & Millichap’s Tampa office.
As part of Marcus & Millichap’s Special Assets Services division, focused on lender-controlled commercial real estate assets, together they were exclusively engaged to market the property on behalf of the seller, a financial institution. The buyer, a department of the county government, was secured and represented by Paul Bouldin.
Largo Preserve is located at 1416 Passover Street in North Port, Florida.
“We have been very successful in assisting a number of lenders with their distressed assets," Bouldin said. "Our reputation with lenders across Florida has grown, along with our pool of buyers seeking these types of opportunities.
"Marcus & Millichap’s unique platform is providing ways to clear transactions where others have been unable to bridge the gap between bids and asking prices. Largo Preserve was a failed 480-lot town home community taken back by the lending bank. The county government unit that bought the property plans to retain it for future uses."
Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
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